[ad_1]
The CEO of BPI said Tuesday that the recommendations of Banco de Portugal (BoP) to tighten lending are "welcome" and that they avoid more aggressive business practices.
"They are very good at these recommendations, are very cautious and help the most serious banks and make a long-term commitment to their clients to make reasonable mortgages," he said at the time. A press conference in Lisbon.
For Forero, thanks to these recommendations, competitors who "were doing more aggressive practices" will now have to "play with more similar rules".
there is a war of "spreads" [margem de lucro comercial] in loans for the purchase of homes in Portugal, Forero avoided using this expression, given that he exists a "competitive market."
"That the market is competitive, yes, I think credit spreads on housing in Portugal are very competitive when looking at the rest of Europe.
Regarding the BPI, the Spanish manager said that the criteria followed by the bank in the granting of credit already were very similar to the recommendations of the BDP and had to make "adjustments in the age of customers" and ask for more documentation on income, but that this "does not mean a major change."
On July 1, new rules come into force from the BDP that create restrictions on the granting of new home loans and to the Consumption, stating that families can only spend half of their income on bank loans.
The new rules were announced on February 1. The rationale is that the goal is that banks do not take on bank loans. risk s excessive on new loans and that customers can repay their debts in case of
In this case, the BOP recommends the granting of new credits only to customers who spend at most half (50%) of their net income with the monthly payments of all loans held (housing and consumption).
The bank supervisor opens exceptions allowing them to exceed this limit of effort rate up to 5% of the total amount of credits granted by each bank each year and that one-fifth of the total amount credits granted each year can have a 60% effort rate.
In analyzing the capacity of the debtor, banks still have to take into account factors such as rising interest rates (by three percentage points) in order to prevent the rise in the rate of interest. Euribor does not compromise the repayment capacity of the loans and the decrease of the monthly income for the customers who, at the end of the contract are more than 70.
There are always limits to the value of the credit against the goods given in guarantee, recommending to the Bank of Portugal that the ratio between the loan amount and the value of the property given as a guarantee has a limit of 90% for loans for clean and permanent housing. That is, in these cases, the borrowed money for the purchase of the house can be at most 90% of the value of the property given as collateral.
This ratio is calculated on the lower value between the purchase price of the house and the appraisal value of the house.
In respect of credits for the acquisition of immovable property held by the banks themselves and for real estate leases, the total value (100%) of the secured property may be lent.
The PB also calls for a gradual convergence towards an average maturity of 30 years until the end of 2022, while new loans should last a maximum of 10 years.
Source link
